A Strategic Document on Monetary Policy for the Period of the Inflation Targeting Adoption in Ukraine

Volodymyr Lepushynskyi ()

Visnyk of the National Bank of Ukraine, 2015, issue 233, 24-38

Abstract: The article explains why the Main Guidelines of Monetary Policy need to be adopted in a new format: A monetary policy strategy for 2016-2020. This document must combine the program component (goals, objectives and ways of achieving them) and communication component (explanations in understandable format). Based on international experience of inflation targeting central banks in devising strategic documents on monetary policy, the article offers a format of this document for Ukraine and the key provisions it should include. In particular, it explains the approaches to setting the document's goals, use of the instruments necessary to achieve these goals, decision making procedures, declarations and application of an exchange rate regime, and also communication of monetary decision-making.

Keywords: monetary policy strategy; inflation targeting; floating exchange rate (search for similar items in EconPapers)
JEL-codes: E52 (search for similar items in EconPapers)
Date: 2015
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Persistent link: https://EconPapers.repec.org/RePEc:ukb:journl:y:2015:i:233:p:24-38

DOI: 10.26531/vnbu2015.233.024

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